DAILY NEWS

Daily News – 13 August 2021 (Fri)

Singapore Real Estate

CDL looks to launch nearly 2,000 units in 4 Singapore projects
City Developments (CDL), often seen as the proxy for the Singapore residential property market, has a launch pipeline here of nearly 2,000 housing units for sale in four upcoming launches. First off will be the 696-unit CanningHill Piers, the residential component of a mixed-use project on the former Liang Court site next to Clarke Quay, which it is developing jointly with CapitaLand.
https://www.businesstimes.com.sg/real-estate/cdl-looks-to-launch-nearly-2000-units-in-4-singapore-projects

Lendlease, SingPost, Paya Lebar Square to form pilot Business Improvement District
A business Improvement District (BID) in the Paya Lebar Central precinct involving Lendlease, Paya Lebar Square Pte Ltd and SingPost Investments will introduce diverse community spaces for residents and visitors in the eastern part of Singapore.
https://www.businesstimes.com.sg/real-estate/lendlease-singpost-paya-lebar-square-to-form-pilot-business-improvement-district

Companies’ Brief

CapitaLand H1 profit up at S$922.2m from S$96.6m on portfolio gains, market recovery
CapitaLand reported net profit of S$922.2 million for the first half ended June 30, 2021 – nearly 10 times the profit of S$96.6 million for H1 FY2020. In a bourse filing on Friday morning, the property giant attributed this to the nascent economic recovery of its two core markets: Singapore and China.
https://www.businesstimes.com.sg/real-estate/capitaland-h1-profit-up-at-s9222m-from-s966m-on-portfolio-gains-market-recovery
https://www.straitstimes.com/business/companies-markets/capitaland-first-half-profit-swells-to-9222m-from-966m-on-portfolio-gains

CDL’s hotel business showing green shoots of recovery from Q2
Property and hotels group City Developments Limited (CDL), which posted a S$32.1 million group net loss in the first-half of this year, is starting to see light at the end of the tunnel for its hospitality business after being hit by the Covid-19 pandemic that erupted last year.
https://www.businesstimes.com.sg/real-estate/cdls-hotel-business-showing-green-shoots-of-recovery-from-q2
https://www.straitstimes.com/business/companies-markets/cdl-posts-32m-first-half-loss-sees-stronger-rebound-ahead

Ho Bee Land’s H1 profit improves 16.5% to S$105.5m
Higher rental income and development profits drove a 16.5 per cent increase in Ho Bee Land’s net profit to S$105.5 million for the first half of this year, from S$90.6 million in the year-ago period. Revenue grew 46.5 per cent on the year to S$157.3 million, from S$107.3 million previously, said the mainboard-listed real estate developer and investor in a Thursday filing.
https://www.businesstimes.com.sg/real-estate/ho-bee-lands-h1-profit-improves-165-to-s1055m

UOL back in the black with S$91.3m profit for H1
UOL Group posted a S$91.3 million net profit for the first half of this year, a turnaround from its net loss of S$82.1 million for the corresponding period last year. This was thanks to a substantial increase in revenue from property development and a sharp drop in fair-value losses, the property company announced on Thursday evening.
https://www.businesstimes.com.sg/real-estate/uol-back-in-the-black-with-s913m-profit-for-h1

Yanlord H1 profit up 67% to 823.4m yuan
Yanlord Land Group’s net profit rose 67 per cent to 823.4 million yuan (S$174.5 million) for the half-year ended June 2021, from 492.9 million yuan in the year-ago period. Group revenue rose 45 per cent to 13.2 billion yuan in H1 FY2021.
https://www.businesstimes.com.sg/real-estate/yanlord-h1-profit-up-67-to-8234m-yuan

Cromwell E-Reit H1 DPU down 2.5% to 8.502 euro cents
Cromwell European Real Estate Investment Trust’s (Cromwell E-Reit) distribution per unit (DPU) fell by 2.5 per cent to 8.502 euro cents for the half-year ended June 30, from 8.717 cents a year ago. Gross revenue was up 5.7 per cent to 99.0 million euros, from 93.7 million euros the previous year.
https://www.businesstimes.com.sg/real-estate/cromwell-e-reit-h1-dpu-down-25-to-8502-euro-cents

Views, Reviews, Forum & Others

Better outlook but uneven recovery ahead
As was widely expected, the Ministry of Trade and Industry upgraded Singapore’s gross domestic product (GDP) growth forecast for this year to 6 per cent to 7 per cent on Wednesday, from 4 per cent to 6 per cent projected last November.
https://www.straitstimes.com/opinion/st-editorial/better-outlook-but-uneven-recovery-ahead

S’pore’s Covid-19 ‘endemic’ road map: Time for a frank conversation
Two contrasting opinions greeted the announcement that Singapore is soon to embark on the road map to endemic Covid-19. The first can be summarised as a relieved, “It’s about time”. Singapore is on a solid footing to fully vaccinate four-fifths of the population by end-August.
https://www.straitstimes.com/opinion/covid-19-endemic-time-for-a-frank-conversation

Designing future healthcare facilities to cope with pandemics and other health crises
While Covid-19 has wreaked havoc on most countries, the global economy, social ecosystems and even mental wellbeing, the impact on healthcare from both a physical and systems perspective cannot be underestimated.
https://www.businesstimes.com.sg/opinion/designing-future-healthcare-facilities-to-cope-with-pandemics-and-other-health-crises

The chief sustainability officer: organisational strategist and futurist
The perspective that meaningful and credible sustainability reporting is an essential requirement for any responsible business is increasingly becoming accepted, by many companies around world. Yet reporting cannot take place in isolation.
https://www.businesstimes.com.sg/leadership-management/the-chief-sustainability-officer-organisational-strategist-and-futurist

Building global supply chain resilience through regional distribution centres in Asean
The outbreak of the Covid-19 pandemic has caused disruptions to global supply chains. The worldwide supply crisis and ensuing demand shock from countries’ lockdowns and travel restrictions have exposed the supply chain and production vulnerabilities of many multinational companies.
https://www.businesstimes.com.sg/companies-markets/building-global-supply-chain-resilience-through-regional-distribution-centres-in

Update on COVID-19 (Coronavirus Disease 2019) Situation

59 new locally transmitted Covid-19 cases; 19 unlinked
[Singapore] There were 59 new locally transmitted coronavirus cases reported on Thursday afternoon (Aug 12). Of the new cases, 26 were linked to previous infections and were already quarantined. Another 14 were linked to previous cases and detected through surveillance.
https://www.businesstimes.com.sg/government-economy/59-new-locally-transmitted-covid-19-cases-19-unlinked
https://www.straitstimes.com/singapore/health/59-local-cases-safra-tampines-among-3-new-clusters

Three new Covid-19 clusters, including Safra Tampines and Chin Swee Road preschool
[Singapore] Three new Covid-19 clusters were reported on Thursday (Aug 12), including clusters at Safra Tampines and My First Skool at 54 Chin Swee Road. The Safra Tampines cluster has six new cases, bringing its total to nine.
https://www.businesstimes.com.sg/government-economy/three-new-covid-19-clusters-including-safra-tampines-and-chin-swee-road-preschool

First case in Westlite Juniper cluster detected on July 24
The first Covid-19 case linked to the currently active Westlite Juniper dormitory cluster was detected on July 24 through rostered routine testing, the Ministry of Manpower (MOM) said yesterday. The cluster comprised 48 cases as at yesterday.
https://www.straitstimes.com/singapore/health/first-case-in-westlite-juniper-cluster-detected-on-july-24

*For more information, please visit the Ministry of Health (MOH) website at www.moh.gov.sg and refer to go.gov.sg/mohupdates for updates on the COVID-19 (Coronavirus Disease 2019) situation